Former Nazara Technology CEO Manish Agarwal and early-stage investor Ishank Gupta have launched a new Web3 gaming venture, Kratos Studios, and raised INR 160 crore at a valuation of INR 1,200 crore in seed led by Accel, an early and growth-stage venture capital firm where Prosus Ventures, Courtside Ventures, Nexus Venture Partners, and Nazara also participated.
With the new funding, the startup intends to build distribution rails for global Web3 games in emerging markets. Kratos Studios has acquired web3 gaming DAO IndiGG through a token swap in order to build a Web3 gaming Decentralised Autonomous Organisation (DAO). While Kratos Studios intends to launch its token within the next year, existing INDI token holders will be given new tokens during the Token Generation Event for the new token. The INDI token will continue to trade on existing exchanges until then.